10.8 MT 341 Forward Rate Agreement Settlement Confirmation

This topic describes the MT 341 Forward Rate Agreement Settlement Confirmation.

This message is exchanged by or on behalf of the institutions or corporates, party A and party B, who have agreed to a forward rate agreement (FRA). It is used to confirm the settlement details of the forward rate agreement when the settlement rate has been fixed on the fixing date. The message is also used for:

• an amendment to a previously agreed settlement message
• the cancellation of a settlement message

Maximum Length: 10000

Table 10-55 Format Specifications: Mandatory Sequence A General Information

Field Tag	Field Name	Format	Mandatory/Optional
15A	New Sequence	Empty field	M
20	Sender's Reference	16x	M
21	Related Reference	16x	O
22A	Type of Operation	4!c	M
94A	Scope of Operation	4!c	O
22C	Common Reference	4!a2!c4!n4!a2!c	M
23D	Type of FRA	10a	M
21N	Contract Number Party A	16x	O
21B	Contract Number Party B	16x	O
82a	Party A	A or D	M
87a	Party B	A or D	M
29A	Contact Information	4*35x	O
72	Sender to Receiver Information	6*35x	O

Table 10-56 Mandatory Sequence B Transaction Details

Field Tag	Field Name	Format	Mandatory/Optional
15B	New Sequence	Empty field	M
30T	Trade Date	8!n	M
32B	Currency, Notional Amount	3!a15d	M
30F	Effective Date	8!n	M
30P	Termination Date	8!n	M
37M	Fixed Rate	[N]12d	M

Table 10-57 Optional Subsequence B1 AFB and FRABBA Details

Field Tag	Field Name	Format	Mandatory/Optional
30V	Fixing Date	8!n	O
38D	Contract Period	4n	O

Table 10-58 Mandatory Sequence C Settlement Instructions for the Settlement Amount

Field Tag	Field Name	Format	Mandatory/Optional
15C	New Sequence	Empty field	M
37R	Settlement Rate	[N]12d	M
34E	Settlement Currency and Amount	[N]3!a15d	M
53a	Delivery Agent	A, D, or J	O
86a	Intermediary 2	A, D, or J	O
56a	Intermediary	A, D, or J	O
57a	Receiving Agent	A, D, or J	M
58a	Beneficiary Institution	A, D, or J	O